SarkariPYQ

SSC Selection Post 2022 PYQ — Question 56

SSC Selection Post - Matriculation Level 2022 - 2 Aug 2022 - Shift 1 • Quantitative Aptitude • Q56

Back to paper

Find the difference between compound interest and simple interest for 2 years at 10% p.a. on a sum of Rs.400.

Show answer & explanation

Correct answer: A

Explanation

The correct answer is option 1 i.e. Rs.4.

SI = P×R×T100=400×10×2100=₹80\frac{P \times R \times T}{100} = \frac{400 \times 10 \times 2}{100} = ₹80

CI = P(1+R100)T−P=400(1.1)2−400=484−400=₹84P \left(1 + \frac{R}{100} \right)^T - P = 400 \left(1.1\right)^2 - 400 = 484 - 400 = ₹84

Difference = 84−80 = ₹4